Stimulus checks might be on financial institution accounts this weekend, the White Home says
Federal Stimulus Checks are being prepared for print at the Philadelphia Financial Center.
Jeff Fusco | Getty Images News | Getty Images
Some Americans will receive new coronavirus stimulus checks as early as this weekend, the White House said on Thursday.
The news from White House press secretary Jen Psaki came minutes after President Joe Biden signed the $ 1.9 trillion Covid relief bill.
“People can expect direct deposits to be made into their bank accounts this weekend,” Psaki said at a press conference.
“This is only the first wave, of course,” noted Psaki, adding, “Payments to eligible Americans will continue over the next few weeks.”
In addition to billions of dollars in funding for vaccinations, state and local governments and other areas, the plan will send direct payments of up to $ 1,400 to the majority of Americans.
It would also extend a $ 300 per week increase in unemployment insurance through September 6 and extend the child tax credit by one year.
To use To grow‘s Relief Calculator to See How Much You Could Get Under the New Law:
The massive bill, which most Americans support, was passed through Congress without the support of Republican lawmakers. The Democratic House and Senate have put the bill on the process of budget voting through Congress, which allows laws that affect the budget to be passed by simple majority.
“This historic legislation is about rebuilding the backbone of this country,” Biden said before signing the legislation. “And give the people of this nation, the workers, the citizens, the people who built this country a chance to fight.”
Later on Thursday, in his first prime-time address to the nation, Biden said that passing the plan would allow his government to accelerate its efforts to reopen schools.
The president also offered a cautiously optimistic vision of the next steps in the fight against the pandemic.
“If we all do our part, this country will soon be vaccinated, our economy will improve, our children will be back in school and we will prove once again that this country can do everything,” Biden said of his address.
The speech took place on the 50th day of Biden as president and the one year anniversary of the pandemic.